HSBC loans to sell South City flats

HSBC has entered into an exclusive tie-up with South City, the mega housing project in the city.

As part of the arrangement, HSBC was offering lucrative home finance options to those who purchase the South City property at the rate of 7 per cent, significantly below rack rates.

Yenten Lama""manager banking services, eastern India HSBC said that this was the first time HSBC was supporting such a tie-up, in this part of the country, by displaying South City's visual merchandising throughout their eastern India network.

Moreover, administration and processing fees for to South City customers would also be waived and the bank would offer a PowerVantage savings account to customers. If this tie-up worked, HSBC would look at similar tie-ups in the future.

HSBC would also participate in South City's overseas roadshows. South City had conducted roadshow in the US, last year and middle east, this year.

There were also plans to hold roadshows in the UK.

South City was banking on HSBC's network in countries, where it had a strong presence.

Anil Khetawat, president""marketing South City Projects (Kolkata) said that more than 30 per cent of South City's sales were in the international market.

South City would be marketing its fourth tower in the UK.

The first two towers of the project had been sold in excess of 80 per cent and more than 25 per cent of the third tower had been sold.

For South City, this alliance was another step towards ensuring the protection of interests of their customers and also proving them with a value for money and experience.

Khetawat said, "The purpose of this collaborative effort is to assure our customers of both the highest standards in world class property now in Kolkata and transparent home financing options from HSBC, a market leader in home loans."